GBP/USD Price Analysis: Pound hovering near multi-month lows, sub-1.2900 figure

GBP/USD is consolidating losses after hitting levels not seen since November 2019.
The level to beat for bears is the 1.2861 support.

Flavio Tosti Independent Analyst

GBP/USD daily chart

After the October and December bull-market, GBP/USD is trading in a rectangle consolidation above the 200-day simple moving averages (SMAs).

GBP/USD four-hour chart

Pound/Dollar is consolidating losses after reaching levels not seen since November 2019. The currency pair remains relatively weak, especially on a break below the 1.2861 support. Downside targets can be seen near the 1.2835 and 1.2731 levels. On the flip side, bullish attempts might find resistance near the 1.2941, 1.2981 and 1.3000 levels, according to the Technical Confluences Indicator.

Resistance: 1.2941, 1.2981, 1.3000

Support: 1.2861, 1.2835, 1.2731

Additional key levels

GBP/USD

Overview
Today last price	1.2893
Today Daily Change	-0.0016
Today Daily Change %	-0.12
Today daily open	1.2909

Trends
Daily SMA20	1.2983
Daily SMA50	1.303
Daily SMA100	1.2982
Daily SMA200	1.2699

Levels
Previous Daily High	1.3008
Previous Daily Low	1.29
Previous Weekly High	1.3054
Previous Weekly Low	1.2849
Previous Monthly High	1.3281
Previous Monthly Low	1.2954
Daily Fibonacci 38.2%	1.2941
Daily Fibonacci 61.8%	1.2967
Daily Pivot Point S1	1.287
Daily Pivot Point S2	1.283
Daily Pivot Point S3	1.2761
Daily Pivot Point R1	1.2978
Daily Pivot Point R2	1.3047
Daily Pivot Point R3	1.3087

Author

Flavio Tosti

Independent Analyst

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